James Mullen

Biogen Idec may join migration to the 'burbs

John Carroll — Fri, 03 Oct 2008 08:57:12 -0400

Biogen Idec may join the exodus of biotech companies leaving Cambridge, MA and move its corporate HQ on out to the suburbs. CEO Jim Mullen (photo) says there's a pretty simple reason why the biotech giant may relocate to Weston: money.

"It's sort of the natural evolution of these things," Biogen Idec chief executive Jim Mullen tells the Boston Globe. "The cost of running a business in Cambridge is pretty high." Mullen plans to make a firm decision by the end of the year.

Cambridge, MA has developed into a thriving biotech hub largely because of the world-class scientific talent in town. But more than a half dozen biotech companies have left Cambridge in the past year to take advantage of the lower operating costs of the ‘burbs. Mullen made it clear, though, that whatever happens to the company's corporate workers, Biogen Idec's R&D work will continue to stay close to MIT, so it can retain and recruit the brainpower it needs.

- read the report from the Boston Globe

CEO pay: Who makes what in Big Biotech?

Wed, 30 Apr 2008 06:59:57 -0400

What do you get when you make it to the top of of Big Biotech's biggest companies? Millions in compensation, for one thing. But although the average pay for the CEOs listed is $14.42 million, most saw a decline from 2006 levels, underscoring the stock market challenges some biotechs faced in 2007. Take, for instance, Amgen CEO Kevin Sharer. Though he came out on top in this year's CEO pay ranking, Sharer's pay down 17 percent from 2006. His base salary was up slightly to $1.55 million but he took a hit on stock awards and incentive plan compensation. Arthur Levinson (Genentech), Henri Treemer (Genzyme), John Martin (Gilead) and James Mullen (Biogen Idec) round out the five highest paid Big Biotech execs.

Because companies each have their own approach to reporting CEO pay, FierceBiotech's CEO numbers are based on total compensation reported in these companies SEC filings. The number include base salary, bonus and "other" compensation in 2007. Click below to see what biotech's biggest players made last year.

- see this CEO pay report for more

Related Article:
Big Biotech's Stock Report

Biogen Idec CEO James Mullen - CEO pay report

Maureen Martino — Fri, 25 Apr 2008 14:54:40 -0400

James Mullen - Biogen Idec

Total Compensation: $8.9 million

Details: Mullen garnered $1.14 million in base salary, $1.94 million in incentives and $159,625 in other compensation. Most of Mullen's earnings this year came from $7.23 million in stock. Despie the big numbers, Mullen earned almost a third less in 2007 than he did in 2006, primairly due to Biogen Idec's failed bid to find a buyer for the company.

Biogen Idec News:
Biogen squares off against Icahn
Icahn aims for Biogen control
Biogen CEO: Pharma too wimpy to deal
Biogen shares deflate as it gives up on sale
Biogen Idec in play after Icahn makes his move